Bollywood Actor Govinda to Assist in Rs 1,000 Crore Ponzi Scam Investigation

Bollywood actor Govinda in connection with a sprawling Rs 1,000 crore online ponzi scam investigation

In a surprising turn of events, the Odisha Economic Offences Wing (EOW) has decided to question renowned Bollywood actor Govinda in connection with a sprawling Rs 1,000 crore online ponzi scam investigation. However, it's important to note that Govinda is currently not considered a suspect or an accused in the case. His involvement, if any, is yet to be determined and will depend on the outcome of the investigation.

The complex scam revolves around a fraudulent entity known as Solar Techno Alliance (STA-Token), which masqueraded as a crypto investment venture. Operating with an online presence in multiple countries, STA-Token managed to collect unauthorized deposits amounting to a staggering Rs 1,000 crore from over 2 lakh individuals across India.

Govinda's association with the company came into the spotlight as he had reportedly endorsed its operations in promotional videos. This endorsement has prompted EOW officials to seek his cooperation in gathering additional information regarding the case.

EOW Inspector General J. N. Pankaj stated, "We will soon send a team to Mumbai to question film star Govinda who had attended STA's grand function in Goa in July and promoted the company in some videos."

The extent of Govinda's involvement, whether it was limited to celebrity endorsement or extended into other areas, will be determined through a thorough investigation. At this point, he remains a potential witness who can shed light on the activities of STA-Token.

The fraudulent company managed to amass Rs 30 crore from 10,000 individuals in various locations, including Bhadrak, Keonjhar, Balasore, Mayurbhanj, and Bhubaneswar, and attracted deposits from investors in several states such as Bihar, Uttar Pradesh, Punjab, Rajasthan, Haryana, Delhi, Jharkhand, Assam, and Madhya Pradesh. The company lured individuals to invest and recruit others under their network chain, promising incentives based on the number of recruits.

Earlier developments in the case saw the arrest of Gurtej Singh Sidhu and Nirod Das, who were the heads of the company in India and Odisha, respectively, on August 7. Furthermore, investment adviser Ratnakar Palai from Bhubaneswar was apprehended on August 16 due to his connection with Sidhu. Lookout circulars have been issued against the company's chief, David Gez, a Hungarian national, and three other Indian executives from Rajasthan, namely Krishna Kumar, Anil Kumar, and Bhoora Ram, all of whom are alleged to have played a role in the scam.

As the investigation unfolds, the role of Govinda and others associated with STA-Token will become clearer, shedding light on the inner workings of this elaborate online ponzi scheme.